The annual decay factor or multiplier of a car decreases by 12% each year is 0.88.
Given ,
The value of a car decreases by 12% = 0.12 each year.
We have to find,
The annual decay factor or multiplier.
According to the question,
The decay factor is the fractional or decimal multiple by which an exponential function decreases. Decay factors are always less than 1. Populations, depreciated values, and radioactivity commonly use decay factors.
The answer would have to be less than 1.00,
Then,
= 1 - 0.12 = 0.88.
Hence, The annual decay factor or multiplier of a car decreases by 12% each year is 0.88.
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